Hey everybody We own 8 rentals in Philly, we are looking to pull some cash out or get a HELOC in order to continue scaling.

@Edgar Duarte Selling now under the primary residence exclusion avoids capital gains taxes, allowing you to reinvest the $500K equity in diversified assets like index funds or additional rental properties.

This would reduce my monthly expense to $3,568, saving $144/month.Questions for the Community:Which of these options do you think makes the most sense for a long-term rental in NYC?

I don’t completely understand how I could best put my money towards a rental property or fund one with the income that I am making.

Your cousin should contact the lender to discuss his options.If he rents it out, he must report rental income and expenses (e.g., mortgage interest, taxes, repairs, depreciation) on Schedule E starting when the property is placed in service.

Purchase price: $189,000 Cash invested: $40,000 Mid-term rental property in a college town.

Completed foreclosures can be resold or added to rental portfolios.   

Denver is very expensive for a new guy who doesn't have loads of capital so a market like Missouri for example is intriguing for far cheaper real estate but then Id either have to move, improve the property remotely or simply buy and hold as a rental for X time. 

You'd be surprised to learn that someone living in a rental or apartment, that has a family and is a successful small businessman, has the money and is willing to take that deal.

I love my Dundalk rentals.